Principal Financial Group Inc. Sells 18,892 Shares of TriNet Group, Inc. (NYSE:TNET)

Principal Financial Group Inc. lessened its position in TriNet Group, Inc. (NYSE:TNET) by 86.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,967 shares of the business services provider’s stock after selling 18,892 shares during the period. Principal Financial Group Inc.’s holdings in TriNet Group were worth $288,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in TriNet Group by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 2,838,347 shares of the business services provider’s stock valued at $376,053,000 after acquiring an additional 52,240 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of TriNet Group by 2.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,226 shares of the business services provider’s stock valued at $3,746,000 after buying an additional 778 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in TriNet Group by 960.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 236,003 shares of the business services provider’s stock valued at $31,269,000 after purchasing an additional 213,752 shares during the last quarter. LRI Investments LLC bought a new stake in shares of TriNet Group in the first quarter valued at approximately $81,000. Finally, Boston Partners lifted its stake in shares of TriNet Group by 20.8% during the 1st quarter. Boston Partners now owns 108,157 shares of the business services provider’s stock valued at $14,319,000 after buying an additional 18,586 shares in the last quarter. 96.81% of the stock is currently owned by institutional investors and hedge funds.

TriNet Group Stock Performance

NYSE TNET opened at $94.03 on Tuesday. The company’s 50 day simple moving average is $93.41 and its two-hundred day simple moving average is $98.76. The company has a debt-to-equity ratio of 7.70, a current ratio of 1.07 and a quick ratio of 1.07. TriNet Group, Inc. has a 1 year low of $74.32 and a 1 year high of $134.67. The stock has a market capitalization of $4.66 billion, a PE ratio of 18.12 and a beta of 1.20.

TriNet Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, October 1st. TriNet Group’s dividend payout ratio is 19.27%.

Analyst Ratings Changes

TNET has been the subject of a number of recent research reports. Needham & Company LLC lowered shares of TriNet Group from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research note on Monday, October 28th. TD Cowen lifted their price target on TriNet Group from $92.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $103.00 price objective on shares of TriNet Group in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, TriNet Group presently has an average rating of “Hold” and an average price target of $117.00.

Insider Activity at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of TriNet Group stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $86.23, for a total transaction of $32,336.25. Following the transaction, the director now directly owns 37,591 shares of the company’s stock, valued at approximately $3,241,471.93. This trade represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.96, for a total transaction of $482,161.68. Following the completion of the sale, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. 37.10% of the stock is owned by corporate insiders.

About TriNet Group

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.